The Top Easy Access Savings Discussion Area

oldandhappy

bertie200 wrote: »

hello,

I just discovered that my Nat West e-saver account was only paying 0.80 % so I have just opened the Online Saver account with The Post Office which is offering just under 3% gross.

I wouldn't have realized had it not been for the MSE News, thanks for that!

I have done the same... but they take ages to get all final paperwork so you can actually use online account I have found. Dianne

dcf

Does any one have an ING Direct Savings account? They seem to be paying me interest at an annual rate of 2.72%, rather than the advertised 2.76%. The difference doesn't amount to a great deal, but if they're doing this to every one, they'll be saving themselves a fair bit in interest.

jedidiah188

I've recently received some inheritance money (£12,000) and would like to both earn interest on it but also divide it into monthly payments that are paid into my current account over the next year.

I have no idea which savings account to use given that I probably won't be adding to the savings account throughout the year AND I would want unrestricted withdrawal access.

Is there a bank account out there that will actually reward a savings account that is in monthly decline? It's a long shot I know!!!

enelsol

I'm none UK resident and wanting to open some UK based instant access savings accounts - keep going to the top recommended on this site and read the small print and all stating must be UK resident.

Any ideas for top interest paying accounts which can be held by British expats (Non resident in the UK).

All help much appreciated.

kats53

I'm just in the process of opening a post office online saver but am wondering...is it best to have interest paid monthly or annually?
I'd be grateful for your advice.

murphydavid

kats53 wrote: »

I'm just in the process of opening a post office online saver but am wondering...is it best to have interest paid monthly or annually?
I'd be grateful for your advice.

Just my opinion - a bit facetious sorry!

It makes no difference to the amount of money you get so depends on your outlook.
If it will depress you to see how little they pay at the moment, then annual because you only have to see it once a year and 12 months worth at one time might look more.
If you are encouraged by seeing it build up each month little by little then monthly.
Kind of - if £1's worth of 10p coins looks more to you than one £1 coin then monthly, otherwise vicky - versee.

m0n3y_3

In general I prefer monthly interest simply because it is obvious more quickly to me should the rate change, with an annual payment you could go longer on a poor rate before noticing.

murphydavid

m0n3y wrote: »

In general I prefer monthly interest simply because it is obvious more quickly to me should the rate change, with an annual payment you could go longer on a poor rate before noticing.

Tis true, however most these days have a fixed term bonus which date goes in the diary about 2 weeks before it ends.

*Kat*

I have £2k which I've saved for my car, my RBS savings is like .55%

So...I was going to open a PO account and deposit it in there, I am likely to spend it in May/June. If I deposit it in before March will I get the interest if I choose Annual interest or doesn't it work like that? Do I have to have it in there 1year?

pete1976

*Kat* wrote: »

I have £2k which I've saved for my car, my RBS savings is like .55%

So...I was going to open a PO account and deposit it in there, I am likely to spend it in May/June. If I deposit it in before March will I get the interest if I choose Annual interest or doesn't it work like that? Do I have to have it in there 1year?

Yes you will get the interest when you close the account, you don't need to have it in for a year (at least that's the case with every account I've ever come across).

However, the difference in interest between 0.55% (gross) and 2.9% (gross) on £2k over 3 months is only about £12 assuming you're a basic rate tax payer.